Cody Sperber

Learn How To Do ‘Quick Comps’ Method When Buying
by Cody Sperber

Running Comparbles Making Offers Investing

When I first started in this business, there were lots of misconceptions about the real estate investment business that prevented me from moving forward. I thought I was too young… I didn’t speak the lingo… I was broke. All reasons – or so I thought – why I wouldn’t succeed in my real estate investing business.

But I was wrong.

I want to save you from those success-crushing misconceptions. Did you catch my previous real estate investing articles where I talked about setting up your real estate investing business and investing in different types of real estate? Let's talk about Acquisitions.

So What Do You Know About Acquisitions & Making Offers?

Quick Comps For Making Offers Investing

Before we dive headfirst into acquisitions, let’s briefly recap what we already know…

You’ve done your due diligence up to this point, and you’ve completed some circumstance analysis. No, really… you have because I’ve already shown you how to do that stuff. By asking the right questions, you’ve uncovered your seller’s motivation and you’ve discovered what he/she wants for the property. Job, well done.

You’ve estimated the repairs (again, by asking the right questions but NOT bombarding your seller with questions). You’ve gathered some good information, so you’re well on your way.

The Art of Running Comps

You’ve got the goods – the preliminary goods, that is – and now it’s time to find out what the property is really worth so you can formulate your negotiation plan and offer a smart strategy with your seller.

And to do this, you’ll need to run comps.

Now, the process of running comps can either be a lengthy, scientific pain in the patella (you know what I really wanted to say), or it can be simple.

If you’re planning to rehab a property, running with the scientific (complicated) method may make sense. And science typically involves research, right? If you’re planning to rehab, I would suggest asking a handful of real estate professionals what they think your property is worth. But be forewarned – you’ll get a handful of different answers. Why? Because each one of those professionals is looking at your property through a different lens. They each have different perspectives based on their business goals and motivation.

So you’re going to have to compare responses, analyze your data and draw an educated conclusion as to what the property is worth. Blah, blah, wah, wah… my brain hurts. So…

I vote for simplicity every day and twice on Sunday.

Keep it Simple in 3 Steps

To estimate the value or your property, check out these 3 websites:

  1. Zillow.com
  2. Publicrecords.netronline.com
  3. Narpr.com

You’re probably already familiar with Zillow where you can search properties by county or state to get estimates. It’s a great first step, but check out publicrecords.netronline to find tax records on your properties and owner information. Then visit narpr, which is a great tool for real estate agents.

But here’s the catch for that last one…

You’ll need an agent to grant you access to this site. So if you’re in good with an agent, ask if he/she can hook you up. If you don’t know many agents yet, start schmoozing.

Once you see that your Zillow ‘Zestimate,’ tax assessment and narpr review are in line, you’ll really get some mojo going.

Remember that the art of comping really means learning about your market. Stop worrying about the EXACT property value when you don’t even have a deal yet! Just keep it simple and keep the process moving forward.




Cody Sperber
As a veteran of the armed forces (NAVY), Cody learned that ethics, honor, and commitment can tell a lot about a person. After being released with an honorary discharge, he attended ASU, receiving a degree in Finance (Magna Cum Laude). Cody then received his real estate license 3 years after he first began investing in real estate because he was tired of working with horrible Realtors that were just trying to make a quick commission.

Cody began focusing on different strategies to help clients Avoid Foreclosure. Cody worked with underwater owners arranging short sales. This led to the development of his Reverse Short Sale Secret. Cody continues to buy and sell millions of dollars worth of real estate every year. In addition he has created a series of free real estate investor training tools for new investors.

Cody trains and mentors a handful of dedicated investors. When it comes to succeeding in real estate investing, Cody grows daily and helps others to do the same. Cody breaks the silence on methodologies that have launched successful real estate investing careers. He explains the top four ways to amass real wealth using real estate whether you are a new or a seasoned investor. His approach is sound and his presentation is clear and concise.

Cody Sperber is recognized as one of the young guns of real estate investing. He thrives on encouraging and educating fellow investors. Cody Sperber's philosophy is to give you all you need to be successful before he ever requires anything on your part more than the commitment to learn.


Copyright Notice
Copyright 2002-2017 All Rights Reserved. Published with Permission of Author. No part of this publication may be copied or reprinted
without the express written permission of the Author and/or REIClub.com.

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